News Update

Multiple Adjournments of Appeals, After Issue of Final Order - Attempt to Restore ThemDRI faces Canon - againCENVAT Credit for Telecom Tower Erection: A Boon for IndustryTrump says India collects a lot of tariff; threatens reciprocal taxI-T - Recourse to Rule 8D for computing disallowance u/s 14A is available only if taxpayer's computation of expenses attributable to earning exempt income, is found to be inadequate: HCGoa CM’s wife sues AAP MP Sanjay Singh for Rs 100 CrI-T - Reopening u/s 148 can't be sustained, in case of apparent disconnect between reasons which were originally recorded for initiation of reassessment and disclosures which stand embodied in final assessment order: HCSyrian rebels dig out mass grave - ‘machinery of death’ under AssadI-T - Reopening of assessment is not permitted beyond period as stipulated u/s 149(1): HCTrump all set to roll back Biden’s EV policiesI-T - Order passed by Tribunal premised on incorrect facts regarding service of CIT(A)'s order on assessee's correct address, which was actually incorrect, merits re-adjudication: HCFTC bans hidden junk fees in hotelI-T - Once issue is already scrutinized during regular assessment, then same issue can't be considered for assumption of jurisdiction to reopen assessment, as it would amount to change of opinion: HCNASA again delays home-coming of astronauts stuck at Space StationI-T- Additions framed merit being set aside where assessee sufficiently explains source of bank deposits as coming from own deposits & cash gifts received from close family: ITATCBIC launches new initiatives to enhance taxpayer's servicesI-T- Exemption u/s 54 is allowed based on amount utilized from sale consideration towards construction of a property, even if construction is not completed: ITATIndia's pharma market for FY 2023-24 peaks beyond USD 50 billionCus - As per settled legal position, freight is not included in duty calculation when foreign vessel is imported for first time: CESTATCCPA notices to 45 coaching centers for misleading advertisement: MoSCus - In absence of any condition of end use certificate in Notification, same cannot be imposed and for that reason exemption cannot be denied: CESTATPLI for medical devices allocated Rs 3420 Cr: MoSCus - Duty payable on ship stores consumed during ship's coastal run, is rightly excluded while finalising Bill of Entry: CESTATNew DPSUs will carry forward modernisation & indigenisation: RMCus - CBLR - Regulation 10(e) stands contravened as broker failed to exercise due diligence in handling documents & filing import declarations by permitting unauthorised use of it's dongle for filing bill of entries: CESTATUnion Minister invites Uniqlo to invest in PM's Mega ParksCus - Order revoking Customs broker's license & forfeiting security deposit and imposing penalty, are untenable where timelines prescribed for issuing SCN, submitting inquiry reports & passing order, are not adhered to: CESTAT
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Conferment of TIOL Awards 2024. The event was held on October 1, 2024 at Taj Palace, New Delhi



Technical Session I - Ease of Doing Business: GST on Digital Economy